Period costs are necessary for the day-to-day operations of a business and are essential for running the company smoothly. Examples of period costs include rent, utilities, insurance premiums, salaries, advertising expenses, and administrative costs. These expenses are typically recurring and are char...
Monthly payroll is the most cost-effective of the bunch and is the easiest to calculate, especially when taxes are concerned. Employers can also rely on the consistency of this payroll schedule.Fixed pay periods A fixed pay period is a method of paying employees where they receive the same am...
in general, in what period should cost be expensed?A.the same period in which they are incurredB.the period in which they are paid forC.the same period in which the related revenues is recognizedD.the period after the related revenue is recognized...
Definition:A cost is an expenditure required to produce or sell a product or get an asset ready for normal use. In other words, it’s the amount paid to manufacture a product, purchase inventory, sell merchandise, or get equipment ready to use in a business process. ...
Answer and Explanation: A) This cost is directly related to production or output. Examples include the purchase of raw materials and utilities. Engineered costs are easy to...Become a member and unlock all Study Answers Start today. Try it now Crea...
An accounting period is the period of time covered by a company’s financial statements. Common accounting periods for external financial statements include the calendar year (January 1 through December 31) and the calendar quarter (January 1 through March 31, April 1 through June 30, July 1 th...
A utility bill is a monthly statement of the amount a household owes for any one (or more) of the basic services that generally keep a home operable and comfortable. Examples of utilities include electricity, water and gas. Depending on how you define utilities, you could also add sewage, ...
What are Examples of Accounts Payable Expenses? AP encompasses any amount of money a company owes besides payroll, including goods or services purchased, software subscriptions, logistics, late fees, or office utility bills. While payroll is not included in AP, it appears on the balance sheet as...
A period cost corresponds with a particular accounting period. If that reporting period is over a fiscal quarter, then the period cost would also be three months. If the accounting period were instead a year, the period cost would encompass 12 months. Why Is Overhead a Period Cost? Period...
A value stock is a class of stock that the market perceives as being cheap in comparison to its intrinsic worth. Its price is lower compared to its fundamental metrics, such earnings, book value, or cash flow, and this is one of its defining characteristics. Value stocks are frequently lin...